EICKnotes for Mar 25, 2014

Notes on stuff that caught my eye today:

Excellent NY Book Review of various Dick Cheney biographies and autobiographies.

It is an astute point, all the more so for seeming obvious: the unique policies put into effect by Bush and Cheney were not consequences of the September 11 attacks but calculated responses to them. There was nothing fated about Stellar Wind, or “black sites” and the “enhanced interrogation techniques” that were practiced in them, or Guantánamo and military commissions; these and the other distinctive post–September 11 policies that still cast their shadows over us were born of choices made by government officials and, in the event, by a vanishingly small number of them.

Why more of the decisions in those heated passionate years haven’t been re-examined in the more sober climate of later years. Decision making based on emotions, valid though they are, rarely leads to optimal long term policy.

2013 profit growth might not have been all that its reported to be. Not only was net income growth much higher than cash flow and revenue growth, it looks like a large amount of the large change was due to favorable comparisons to 2012 due to goodwill write downs.

While the amount of hedge fund AUM continues to grow, it looks like the churn of new funds opening and closing has increased in recent years. Also, interesting note at the end on the increasing amount of leverage in a particular corner of the hedge fund space.

Best of the Rest

By Jon Eickmeier | March 25, 2014 | links curated markets economics EICKnotes

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